Flats sold in 2005 in Sector 53 not delivered: Buyers

GURGAON: Homebuyers in Parsvanath Developers' flagship project in Gurgaon have accused the developer of delaying possession, alleging flats in four of 15 towers sold by the builder in 2005 have not been delivered till date though construction began in the 2009-10 financial year.

Located on the Main Sector Road in Sector 53, opposite the golf course, construction on the project, Exotica, started in 2005 and bookings started the same year. Exotica Condominium Owners' Association (ECOA) chief Amit Bansal told TOI on Thursday according to the sale deed, buyers were to get possession of the property within 36 months, allowing a maximum delay of a further six months. However, the ECOA alleged four towers (D4, D5, D6 and B1) in the residential project were yet to be delivered to the owners.

Earlier this month, the National Consumer Disputes Redressal Commission (NCDRC) had ruled against Parsvnath Developers in a similar case where the developer had delayed the possession of flats in its Parsvnath Privilege complex in Greater Noida. The NCDRC ordered the developer to return money with with 18% interest to buyers Subhash Mahajan and Abhishek Kumar Dwivedi, who had filed the petition for the delay. It also ordered compensation of Rs 7 lakh within 90 days to each of the buyers for causing them mental agony, failing which the rate of interest would rise to 24%.

Bansal said the ECOA will approach the NCDRC in a day or two. TOI contacted Parsvnath Developers, but a spokesperson for the company said it was not currently in a position to comment on the issue.

With Thanks : Times of India : LINK : for detailed news.